Local Economic and Employment Development (LEED Programme)

Smarter Local Economic Development

IN FOCUS

The purpose of local development is to build the capacity of a defined area to improve its economic future and the quality of life for inhabitants. Local development makes an important contribution to national economic performance and has become more critical with increased global competition, population mobility, technological advances, and consequential spatial differences and imbalances. Effective local development can reduce disparities between poor and rich places, add to the stock of locally generated jobs and firms, increase overall private sector investment, improve the information flows with investors and developers, and increase the coherence and confidence with which local economic strategy is pursued. This can also give rise to better diagnostic assessment of local economic assets and distinctive advantages, and lead to more robust strategy assessment.

For this report the OECD has analysed four internationally oriented, mid to higher ranking EU cities to share lessons about how local economies can capture the leadership dividend. These cities are Amsterdam, Hamburg, Manchester (encompassing the city-region) and Stockholm. This European quartet has been actively engaged in the challenge to re-build their jobs base, attract employers and grow investment, raise the investment rate, ensure adequate supply of business space, expand new sectors, and build economic inclusiveness in a higher skilled economy. Their leadership models also stand out for their success in shaping their local economies.

The OECD LEED Delivering Local Development work stream examines the local and regional framework conditions and instruments for intervention to achieve successful local economic development in participating countries and localities. It covers strategic themes encompassing finance and investment, building the knowledge base, delivery vehicles and economic strategies (including the local development impacts from global events).

Derry-Londonderry has a challenging period ahead as it seeks to create 12 000 much needed jobs in the city over the next 10 years. It is now an outward-looking and learning city, seeking to learn from international best practice and in turn contribute to new thinking and understanding. Through One Plan – the Regeneration Plan for Derry Londonderry 2020 – the city can determine a different future: a stronger economy and equal society.